Recently, the GBP/USD pair has been trading sideways at the price of 1.3878. According to the 30M time – frame, I found a successful rejection of pivot resistance 1 at the price of 1.3936 (strong price action resistance), which is a sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward targets are set at the price of 1.3829 (pivot support 1) and at the price of 1.3763 (pivot support 1).
Resistance levels:
R1: 1.3936
R2: 1.3979
R3: 1.4045
Support levels:
S1: 1.3829
S2: 1.3763
S3: 1.3719
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company - www.instaforex.com
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